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told the american people, who were reluctant to raise the debt ceiling, and a lot of members of congress were reluctant to raise the debt ceiling since we were so irresponsible around this place, but an agreement was reached recognizing that could be disruptive to a significant degree, that we would raise the debt ceiling $2.1 trillion but we would reduce spending over ten years $2.1 trillion. well, we've already run up another $2.1 trillion in debt. we've already hit that. but they're proposing, and the president himself in his budget last january, six months -- less that six months after he signed the budget control act eliminating a little bit of the growth in spending, he's proposing to eliminate it, at least the sequester part of it, which is $1.2 trillion, 60%. so here are some other figures that are plain that the american people should know about this budget. it has a 60% spending increase over ten years, would increase spending 60%. it has $162 billion increase in spending next year, another stimulus bill. $7.3 trillion in new federal debt will be added under this bu
agreed if we continue with razor debt ceiling, that number will go a. but the next speaker has been an outspoken advocate for not raising the debt ceiling without equal cuts and not razor debt ceiling's our children cannot inherit a debt ridden future. the next speaker has been an outspoken advocate for the unilateral repeal of obamacare. >> and more so than anything else, our next speaker is one of the most courageous conservatives in the country your she stands for principle, she will oppose republican just like she will oppose a democrat. she's fighting for the future of this country, so my generation can prosper. ladies and gentlemen police join me in welcoming congresswoman michele bachmann. [cheers and applause] ♪ ♪ >> good morning. good to see you. so glad you're here. good morning. love you, too. good morning. welcome, everyone. thank you for that wonderful, wonderful tea bag or the morning welcome. and you are up and you. welcome to washington, d.c. the epicenter of care and compassion. it is a very unique city, as you know. you have to show a photo id in would have a w
years. under the debt ceiling deal of january, if the senate doesn't pass the budget by april 15, senators would have the paychecks withheld. you would be in a embarrassing headlines of senator having the pay withheld for not doing the job. that's a political hot potato. maybe there's truth. for moran he wants to have a certain number of cosponsors as well worried about impact of on air traffic controller by the sequestration that went in to effect march 1st. the $85 million cuts across the board have pretty much cut federal spending. >> on the cr, the rest of 2013 assuming the senate wraps up the work in the next day or so, how quickly is the house likely to take it up and pass it? >> talking house appropriation chairman was saying it's likely that unless terrorist some last minute changes or amendments he doesn't know about it the house will quickly move to bring the senate cr unchanged to the floor under a closed rule. and the house can move with lightening speed compared to the senate. we should see a vote quickly before they leave for easter recess. i think it's clear in the
, the budget control act, was that obama wanted to keep spending, and he needed the debt ceiling to be increased because he'd spent so much money. and the republicans said, okay, we'll raise the debt ceiling is so the country doesn't default, but only if you agree to a dollar-for-dollar reduction in spending over the next decade. and so we got $2.5 trillion in spending restraint. not real cuts, spending less than obama had hoped in. in washington that's called a cut. if you wanted ten of something and you only got eight of something, you go i got cut too. actually, you walked away with eight. but, so that was a $2.5 trillion spending reduction over the next decade. it hasn't happened yet. we're still, we have several problems facing us. the trillion dollars in obamacare tax increases that hit this decade, that begin to hit now. oddly enough, the president and the democrats in the house and senate decided to put the tax increases, the bulk of them after the 2012 election. so everybody voted, and now the tax increases hit. it's not helpful for the economy, and i think it's going to
a discussion on the lifting of the debt ceiling, some of the republicans who were there, actually walked out of the room. this year we didn't have that. so, you know, people were more willing to listen, but i think that the extreme wing of the tea party typically does not attend the harvard new members conference this. [laughter] in my experience. >> jessica mathews. among economists, is there significant debate about your estimate, your five to $6 trillion estimate, are you still -- what are the key issues that if we were in a roomful if economists we would be tangling with you about? >> well, that's a great question. i think that, you know, the original estimate when we had the original estimate 3 trillion, came back to his sort of early on from a former student of mine who was working in the administration and he was a brilliant student, fairly senior job at omb. he called me and he said i've been tasked with setting up a committee to scrutinize all the numbers in your book, and to discredit them. i just want to let you know that. and i said, okay. fine. and he came back to the six months
the debt ceiling ceiling $2.1 trillion ae agreed to reduce spending over ten years, $2.1 trillion. before the ink was dry, the president was proposing to eliminate the cuts he agreed to. he's been fighting to eliminate those cuts from the beginning. and they're really not cuts. they're simply -- if they were properly applied, it would reduce the growth of spending and not cut spending actually at all. so the committee that was supposed to find all the cuts failed. the sequester came into law. it's an antimilitary provision. it was put in by jack lew, a very liberal member of the president's, at that time, chief of staff for offic office of mot and budget. the president seems to be quite happy to see these cuts fall on the defense department. he seems to be happy to have this happen. why do you say that? i say, because he's done nothing to philadelphia it. -- to fix it except demand something that he has no right to demand. that is, to violate this agreement and raise taxes and spend more. and that's not going to happen. congress is not going to vote to violate the agreement they made with
these two plans could be the beginning of a bigger agreement over the next several months. the debt ceiling will have to be raised sometime this summer and these plans could become part of a larger plan to raise the debt ceiling. >> paul krawzak writes for cq roll call. thanks for talking with us today. >> thank you. >> president obama officially nominated thomas perez to be his next labor secretary. mr. peres has been in the sub rights division since 2000 currently serves as the assistant attorney general for civil rights. he is the sum of a dominican immigrant in the first hispanic to be named to president obama second term cabinet. the ceremony to case in the white house geese room this morning. here is a look. [background sounds] >> ladies and gentlemen the president of the united states accompanied by thomas perez. [applause] [applause] >> thank you. [applause] everybody have a seat. have a seat. as i have set before my top priority as president is doing everything we need to do to make sure that we are growing our economy and that we are strengthening our middle class. and as i said s
Search Results 0 to 6 of about 7